The Baby Boomer Series: Episode 3 - 'Discussion'
Welcome to the third video in my series for Baby Boomers.
Cant watch the video today - why not need the transcript below?
This time we are lightening the mood just a little bit and talk about talking!
Most couples find financial planning is helpful in getting them to talk to each other about their finances. People tend to need prompting to do this!
With most couples there is a tendency for one person to take responsibility for the money. Although there is nothing the matter with this, what tends to happen is that the other person ends up not knowing anything. Inevitably somebody, usually the person who is responsible for it all, dies, and the other individual is left just not knowing what on earth is going on. This is a recipe for disaster!
So how do we fix this? Very easily!
Start by making a list of everything - assets, income, bank accounts etc. Sit down together around the kitchen table and talk! Do this once every six months or so. Talk about what you are spending money on, talk about your assets, the income that you are getting, simply have a conversation. This may sound incredibly simple but you would be amazed how the vast majority of us just don’t do that.
If you feel that you can’t, whether you can’t get yourself around to it, it just doesn’t seem to work or the conversation is not as productive as you would like then maybe talking to a financial planner would be helpful to you.
So please, when it comes to your finances, Baby Boomers please talk to each other!
Regards,
Nicholas.
Cant watch the video today - why not need the transcript below?
This time we are lightening the mood just a little bit and talk about talking!
Most couples find financial planning is helpful in getting them to talk to each other about their finances. People tend to need prompting to do this!
With most couples there is a tendency for one person to take responsibility for the money. Although there is nothing the matter with this, what tends to happen is that the other person ends up not knowing anything. Inevitably somebody, usually the person who is responsible for it all, dies, and the other individual is left just not knowing what on earth is going on. This is a recipe for disaster!
So how do we fix this? Very easily!
Start by making a list of everything - assets, income, bank accounts etc. Sit down together around the kitchen table and talk! Do this once every six months or so. Talk about what you are spending money on, talk about your assets, the income that you are getting, simply have a conversation. This may sound incredibly simple but you would be amazed how the vast majority of us just don’t do that.
If you feel that you can’t, whether you can’t get yourself around to it, it just doesn’t seem to work or the conversation is not as productive as you would like then maybe talking to a financial planner would be helpful to you.
So please, when it comes to your finances, Baby Boomers please talk to each other!
Regards,
Nicholas.